Why is Jindal Saw falling/rising?

As of 17-Oct, Jindal Saw Ltd's stock price is currently at Rs. 190.50, reflecting a decline of Rs. 10.8 or 5.37%. The stock has recently hit a new 52-week low of Rs. 189.55 and has underperformed its sector by 4.39%. Over the past week, the stock has fallen by 7.73%, and its year-to-date performance shows a significant decline of 34.83%. The company has reported negative results for the last three consecutive quarters, with a notable drop in net sales of 15.22% and a 64.7% decrease in profit after tax compared to the previous four-quarter average. Additionally, the stock is trading below all major moving averages, indicating a bearish trend, and there has been a 46.69% drop in delivery volume, suggesting reduced investor interest. In the broader market context, Jindal Saw's performance has been considerably weaker than the benchmark, with the Sensex gaining 1.76% over the past week while Jindal Saw has lost 7.73%. Over the last year, the stock has generated a return of -47.92%, starkly contrasting with the BSE500's positive return of 0.54%. The decline in institutional investor participation, with a 1.5% reduction in their stake, further reflects a lack of confidence in the stock's fundamentals. Despite the company's healthy long-term growth potential, as indicated by a 24.66% annual growth in operating profit, the recent negative financial results and falling investor participation have contributed to the stock's downward trajectory.